REGAL ENTERTAINMENT GROUP (RGC) SEC Filing 10-K Annual report for the fiscal year ending Thursday, January 1, 2015
Regal Entertainment Group Reports Results for
Fourth Quarter 2014 and Declares Quarterly Dividend
Knoxville, Tennessee February 12, 2015 Regal Entertainment Group (NYSE: RGC), a leading motion picture exhibitor owning and operating the largest theatre circuit in the United States, today announced fiscal fourth quarter 2014 results.
Total revenues for the fourth quarter ended January 1, 2015 were $799.1 million compared to total revenues of $739.9 million for the fourth quarter ended December 26, 2013. Net income attributable to controlling interest was $46.3 million in the fourth quarter of 2014 compared to $24.0 million in the fourth quarter of 2013. Diluted earnings per share was $0.30 for the fourth quarter of 2014 compared to $0.15 during the fourth quarter of 2013. Adjusted diluted earnings per share (1) was $0.30 for the fourth quarter of 2014 compared to $0.17 during the fourth quarter of 2013. Adjusted EBITDA (3) was $163.5 million for the fourth quarter of 2014 compared to $125.8 million for the fourth quarter of 2013. Results for the fourth fiscal quarter of 2014 and for fiscal 2014 were significantly and positively impacted by the timing of our fiscal calendar which consisted of a 14 week period in the fourth quarter of 2014 compared to a 13 week period in the fourth quarter of 2013 and a 53 week period in 2014 compared to a 52 week period in 2013. The additional week was the week between Christmas and New Years Day, a traditionally high attendance week for the company and the industry. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release.
In 2014, we demonstrated our ability to deliver value to our shareholders despite a challenging box office environment as our strategic and operational execution helped generate total shareholder return of over 20% for the third consecutive year, stated Amy Miles, CEO of Regal Entertainment Group. Looking ahead, we are encouraged by the industry box office results for the last several weeks and optimistic about the potential for box office success throughout 2015.
Regals Board of Directors also today declared a cash dividend of $0.22 per Class A and Class B common share, payable on March 13, 2015, to stockholders of record on March 3, 2015. The Company intends to pay a regular quarterly dividend for the foreseeable future at the discretion of the Board of Directors depending on available cash, anticipated cash needs, overall financial condition, loan agreement restrictions, future prospects for earnings and cash flows as well as other relevant factors.
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements included herein, other than statements of historical fact, may constitute forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from the Companys expectations are disclosed in the risk factors contained in the Companys 2013 Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 24, 2014. All forward-looking statements are expressly qualified in their entirety by such factors.
The following information was filed by REGAL ENTERTAINMENT GROUP on Thursday, February 12, 2015 as an 8K 2.02 statement, which is a press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K statement of earnings and operation as management may choose to highlight particular information in the press release.
- Form Type: Annual
- Number of times amended: 1
- Accession Number: 0001168696-15-000004
- Submitted to the SEC: Monday, March 2, 2015
- Accepted by the SEC: Monday, March 2, 2015
- Period Ending: January 2015